Return to search

AMP Capital wins Japanese advisory mandate

The Australian fund manager will help GII, a Japanese renewable energy investment firm, to acquire assets as the country ups demand for clean energy.

AMP Capital, the Sydney-headquartered fund manager, has announced that it will be advising GII, a Japanese firm investing in renewable energy assets across its home market.

GII is aiming to invest in renewable energy infrastructure such as solar photovoltaic (PV) generation facilities, taking advantage of Japan’s growing demand for clean energy. The firm has lined up its first acquisition in the form of an operating, 2-megawatt solar power generation facility in Miyazaki prefecture.

AMP Capital will help GII to acquire further assets as well as providing ongoing advice.

“There has been a lot of focus on expanding the renewable energy sector as part of a shift in Japan towards clean energy, and there is a growing need for funding for both brownfield and greenfield renewable energy projects,” said Anthony Fasso, AMP Capital chief executive officer international, in a statement.

In the statement, AMP Capital billed the move as a “first step” into the Japanese infrastructure market. However, it formed a partnership with Mitsubishi UFJ Trust and Banking Corporation (MUTB) in 2011. MUTB is a silent partner in GII.

A year after the partnership was formed, in 2012, MUTB acquired a 15 percent shareholding in AMP Capital. During the last two years, the firms have together launched six retail funds and worked closely in raising capital for AMP Capital’s Infrastructure Debt Fund II and Global Infrastructure Fund.